Yield Guild Games Token (YGG) 2023 Guide
What Is Yield Guild Games
Yield Guild Games (YGG) is a decentralised autonomous organisation (DAO) and gaming guild that invests in virtual worlds and NFTs. The key aim of Yield Guild Games is to make play-to-earn gaming more accessible to everyone by democratising access to the NFTs that individuals need to get started.
YGG achieves this by owning and developing assets in the metaverse and creating value in it so that their guild members can thrive in the virtual environment. The platform aims to develop the content and economy of these blockchain games which will consequently allow their guild members to earn a sustainable income from these games.
How Does Yield Guild Games Work
These are some of the key features of how Yield Guild Games work:
Scholarship Programs
YGG offers scholarship programs to individuals who want to participate in blockchain games but may not have the necessary financial means to do so. Scholars can borrow in-game assets through the YGG platform so that they do not need to purchase the assets themselves.
In addition to lending in-game assets, YGG also provides support and guidance to its scholars, helping them optimise their gameplay and maximise their earnings.
Income Sharing
Using the in-game assets provided to them via the YGG platform, scholars play the blockchain game to earn rewards. The exact distribution of the rewards varies according to the terms of the scholarship agreement but it typically involves a portion of the rewards going to the scholar, YGG, and the asset owner (if they are not in the same guild), creating a mutually beneficial agreement.
The scholar gets a portion of the rewards as income for playing the game. YGG, as the provider of the assets and support, takes a percentage of the rewards to help sustain its operations and support of the scholarship program. In cases where the asset owners are not the same as YGG, asset owners will also receive a share of the rewards for lending their assets to the scholars.
Asset Ownership
The assets that YGG owns include NFTs, cryptocurrencies and tokens. The NFTs include in-game assets and virtual lands which are rented out to players. Cryptocurrencies, such as its native token, YGG, owned by Yield Guild Games are used to invest in new projects and to distribute profits back to community members. YGG also owns tokens from other blockchain projects which are used to gain access to their exclusive features and content.
YGG acquires and maintains a collection of in-game assets through purchases on the open market, donations from the community, or other methods of acquisition. YGG lends these assets to individuals who participate in its scholarship program for a fee.
These assets are not owned by any individual or group of individuals but by the YGG treasury. The greater the number of YGG tokens a community member owns, the greater their stake in the YGG treasury and the assets in it.
YGG Tokenomics
YGG is the native token of Yield Guild Games. These are several of its use cases including, but not limited to:
Staking & Rewards
YGG token holders can stake their tokens to earn rewards. These rewards can be in the form of a share of the profits generated by the guild from various activities, including Axie Infinity gameplay and other blockchain gaming ventures.
Governance
YGG holders can participate in Yield Guild Games’ governance through Yield Guild Games DAO. This includes participating in the decision-making processes, such as voting on proposals related to the guild’s operations, investments, and other governance matters.
Participation in Yield Guild Games Ecosystem
YGG tokens can be used to participate in the Yield Guild Games ecosystem such as gaming activities, including sponsoring Axie Infinity scholars. YGG tokens can also be used to fund and support the growth and development of the platform’s ecosystem through partnerships and acquisitions of other blockchain gaming projects.
YGG has a total supply of 1,000,000,000 tokens of which 278,075,490 tokens are in circulation as of October 2023.
The planned distribution of YGG tokens is as follows:
- Community – 45%
- Investors – 24.9%
- Founder – 15%
- Treasury – 13.3%
- Advisors – 1.8%
YGG reached an all-time price high of $10.37 on August 28, 2021. Since its all-time high, the price of YGG has fallen by more than 90% as of October 2023. With a circulating supply of 278 million YGG tokens, Yield Guild Games has a market capitalisation of $66.72 million.
Who Created Yield Guild Games
Yield Guild Games was founded in 2018 by Gabby Dizon, Bery Li and Owl of Moistness. Dizon has over 18 years of experience in the gaming industry and was part of the team that launched the Axie Infinity and Yearn Finance Communities. He is also a founding board member of the Blockchain Game Alliance.
Li graduated from Cambridge University and is the co-founder of both Yield Guild Games and CapchainX. She served as president of the Cryptocurrency Society in 2016. Owl of Moistness is a blockchain developer who has worked on the algorithms for NFTs and bots of many blockchain projects, including Axie Infinity.
YGG has managed to raise a total of $105 million in funding as of October 2023 with the latest funding round in February 2023 where the platform raised $75 million. Some notable investors in YGG include Andreessen Horowitz, Sequoia Capital and Animoca Brands.
How To Trade On The Flipster App
To trade YGG on Flipster:
- Download the Flipster app and set-up your account
- Go to [Trade]
- Click on [Search] at the top of the page and type in YGG
- Click on YGG
- In the [Amount] field, type in the amount of YGG you wish to buy or sell. Alternatively, you can select the percentages below to choose how much to use from your available funds.
- Click [Preview order] to check your order
- Once you have confirmed the details, click on [Buy YGG – Long] button or [Sell YGG – Short] respectively.
Disclaimer: This material is for information purposes only and does not constitute financial advice. Flipster makes no recommendations or guarantees in respect of any digital asset, product, or service.
Trading digital assets and digital asset derivatives comes with significant risk of loss due to its high price volatility, and is not suitable for all investors.